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CalyxSoftware News
June 2016
 
 
CalyxSoftware User Conference
 
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Joan England, Senior Director of Sales and MarketingSummertime and the Livin’ Is Easy…Unless You’re in Our Industry!
Remember when summers were full of hot lazy days with barbeques and sandy toes, cooler starry nights with fireflies and fireworks…and the most work you had to do was read the three books on your school’s required reading list? Now we’re lucky if we have a long weekend to enjoy these things. Summer appears to be replacing spring as the busy home buying season, particularly for those who want to buy and move in before the school year begins.
Find Out More
Encourage Your Executives to Join You at the CalyxSoftware User Conference
Do you want to attend our first national mortgage industry symposium and user conference, but are not sure how to assure your management team of the value?
Find Out More
Point Version 9.4 Is Coming
We’re pleased to announce that Point® 9.4 is scheduled for release next month.
Find Out More
Did You Know That PointCentral…
Allows you to easily configure business rules with hard or soft stops to your shop’s specifications to complement your workflow?
Find Out More
Can Your Jumbo Loans Stand the Fair Lending Test?
A recent Wall Street Journal article highlighted the growth of the jumbo mortgage market and why it’s important to have an Automated Underwriting System (AUS) that can prove you’re being fair and consistent in your lending decisions.
Find Out More
Entering Lender-Paid Compensation to Broker
Lender-Paid Compensation to Broker does not print on the Loan Estimate but is disclosed on the Closing Disclosure. However, for accurate Qualified Mortgage (QM) calculations, an entry must be made on the Fees Worksheet.
Find Out More
And Speaking of the Loan Estimate…
On Thursday, June 23, we are offering a live 60 minute webinar, presented by Emily Martinez, a senior consultant on our professional services team, to help you generate accurate and compliant Loan Estimates. The webinar is now filled to capacity, but don’t worry, we will post a recording so you won’t miss this informative webinar
Find Out More
Rethinking Summer School
Summer is a great time to brush up or learn new skills. Our Professional Services Group (PSG) can teach you and your team tips and tools that can immediately help you become more productive during this busy time.
Find Out More
Missed the Original Trended Credit Data Webinar?
On June 2 we partnered with CoreLogic for a Q&A webinar to give you an opportunity to ask questions about trended credit data and how the upcoming Fannie Mae requirements will impact you.
Find Out More
What Does Calyx Give You the Freedom to Do?
Grow your business into new channels? Focus on customer service?  Simplify the loan origination process? All of the above and more. Connect with us on social media with #FreedomTo and tell us what CalyxSoftware gives you the freedom to do!
Find Out More
Upcoming Events
Each year CalyxSoftware® and our partners sponsor events that provide a unique opportunity to learn more about Calyx, our innovative products, and our future direction.
Find Out More
 
 
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Joan England, Senior Director of Sales and Marketing
Summertime and the Livin’ Is Easy…Unless You’re in Our Industry!
Joan England, Senior Director of Sales and Marketing

Remember when summers were full of hot lazy days with barbeques and sandy toes, cooler starry nights with fireflies and fireworks…and the most work you had to do was read the three books on your school’s required reading list? Now we’re lucky if we have a long weekend to enjoy these things.

Summer appears to be replacing spring as the busy home buying season, particularly for those who want to buy and move in before the school year begins. In addition, the CFPB recently announced that it will propose changes this summer to the TRID rule to give the mortgage industry "greater certainty and clarity" of the regulations. What will those changes be? Well, we should find out in late July…and when we do, you can be sure that Calyx® will be ready to incorporate them into our software and help you prepare with informative webinars and even a special session at the CalyxSoftware User Conference.

So even though the livin’ isn’t all that easy this summer, I hope you put down your laptop/smart phone/tablet, dip your toes in the water and spend some quality time with your loved ones. All of us need to recharge our batteries every once in a while!

     

Encourage Your Executives to Attend the CalyxSoftware User Conference with You

Do you want to attend our first national mortgage industry symposium and user conference, October 5-8, 2016 | New Orleans, LA, but are not sure how to assure your management team of the value? Here are three benefits you can point out to gain their involvement and approval:

“It will make us smarter and more productive.” The agenda is loaded with important information and features more than 30 specialized breakout sessions led or moderated by industry experts, GSE and CFPB representatives and key Calyx partners, on subjects such as:

  • State of the housing and mortgage markets
  • Understanding HMDA, MISMO, TRID (and all of the other acronyms!)
  • Grow your business and reach the next generation of home buyers
  • Using technology to overcome compliance challenges
  • Ways to better target your market to increase productivity and sales
  • What is FinTech? What are the pros and cons of adopting FinTech?
  • Growing and profiting with non-agency and portfolio lending strategies and technologies

We will also offer a fully accredited Continuing Education - SAFE Comprehensive: Principles in Practice - A Fresh Perspective on Mortgage Compliance (Course #5936).

In addition, there will be special keynote addresses from Barbara Corcoran, real estate mogul and business expert from Shark Tank, and David Pogue, host of NOVA ScienceNow and founder of Yahoo Tech.

“It will provide invaluable networking opportunities.” Many mortgage industry leading experts will attend the CalyxSoftware User Conference. You’ll be able to meet them in sessions, on the exhibit floor and join them at the opening night party or our 25th Anniversary Masquerade Gala at Mardi Gras World. And maybe you'll create a few new partnerships that will return great benefits to your company.

Register Now!“We will receive so much value for minimal expense.” Take advantage of the CalyxSoftware User Conference Early Bird Discount and save hundreds of dollars (But hurry! It ends August 5th). The value of this symposium and user conference is phenomenal considering the low price.

Point Version 9.4 Is Coming

We’re pleased to announce that Point 9.4 is scheduled for release next month.

Release highlights include:

  • Updating HUD form 92900-A to the latest version. The updated form is required by FHA and VA for certain loans effective August 1, 2016.
  • Updating INK-it to accommodate e-signatures on custom documents.
  • Moving the Aggr Escrow button from the Fees Worksheet to the Closing Costs Worksheet to ensure that escrow fees on the Aggregated Escrow screen are populated with Closing Costs Worksheet data.

For help with any Calyx product, feel free to contact Calyx Support at support@calyxsoftware.com or 800.342.2599.

Did You Know That PointCentral…

  • Supports business rules which are easily configured with hard or soft stops to your shop’s specifications to complement your workflow?
  • Stamps documents with the time and date, providing an audit trail for proof of compliance at every step? The Audit Trail is easily accessible from the Utilities menu.
  • Includes marketing and sales tools (such as rent vs. own comparisons, open house flyers and pre-approval letters) to help you stay in touch and provide your borrowers with informative advice to build solid relationships?

Can Your Jumbo Loans Stand the Fair Lending Test?

A recent Wall Street Journal article highlighted the growth of the jumbo mortgage market and why it’s important to have an Automated Underwriting System (AUS) that can prove you’re being fair and consistent in your lending decisions.

Manually underwriting these loans is prone to human error (which can be interpreted as bias), takes days instead of minutes, and can expose your institution to Fair Lending violations. Having an AUS in place can help ensure the proper application of your credit policy and create loan-level transparency of approval criteria, as well as streamline decisioning and improve the borrower experience.

Custom AUS from LoanScoreCard® is a leading automated underwriting solution that you can use to customize credit decisioning and safely originate compliant assets. It quickly delivers an underwriting analysis and provides an assessment report for non-agency loans—creating an audit trail for underwriting and ability-to-repay decisions. Custom AUS can also accommodate third-party origination programs and help ensure consistent, transparent credit policy application.

See how Custom AUS can help you underwrite non-agency loans safely and compliantly! Contact us via email or at 800.617.0892.

Entering Lender-Paid Compensation to Broker

Lender-Paid Compensation to Broker does not print on the Loan Estimate but is disclosed on the Closing Disclosure. However, for accurate Qualified Mortgage (QM) calculations, an entry must be made on the Fees Worksheet.

  1. Open the Fees Worksheet and go to block 1, Our Origination Charge (A. Origination Charges).
  2. Select the Include Lender-Paid Compensation to Broker in the Total Settlement Charges check box.
  3. Complete the following fields to include lender-paid compensation:
    1. Fee Description
    2. Paid To
    3. Company Name
    4. Enter the applicable percentage and dollar amount of the lender-paid compensation
  4. Click the QM button.
  5. Clear the Include Lender-Paid Compensation to Broker in the Total Settlement Charges check box before issuing the Loan Estimate to avoid including the amount in the Estimated Cash to Close.
Lender Compensation on the Closing Disclosure
  1. Open the Closing Costs Worksheet and go to block 1, Our Origination Charge (A. Origination Charges).
  2. Click the Copy from Fees Worksheet button to populate the Closing Costs Worksheet.
    The lender-paid compensation information is populated from the Fees Worksheet.
  3. Select the Include Lender-Paid Compensation to Broker in the Total Settlement Charges check box.

  4. Complete the following fields to include lender-paid compensation (if not already completed from copying the Fees Worksheet):
    1. Fee Description
    2. Paid To
    3. Company Name
    4. Enter the applicable percentage and dollar amount of the lender-paid compensation
  5. The Lender-Paid Compensation to broker amount will populate in the Paid by Others column in block A. Origination Charges, on page 2 of the Closing Disclosure.

Per CFPB 1026.37(f), commentary (2)


Indirect compensation from the lender to the originator is not disclosed on the Loan Estimate, but rather is disclosed on the Closing Disclosure. However, direct compensation to the loan originator from the borrower is disclosed on the Loan Estimate.

The Lender-Paid Compensation to Broker field on the Fees Worksheet is compensation to the broker for the borrower interest rate credit. Therefore, it is considered indirect lender compensation and is not disclosed on Loan Estimate.

You can find more articles like this in our Knowledge Base (KB).
For additional support, you can reach us by phone at 800.342.2599
or email the specific department you need:

General Support Questions: calyxsupport@calyxsoftware.com
Loan Support: loansupport@calyxsoftware.com
PointCentral Technical Support: pointcentralsupport@calyxsoftware.com
Point Support: calyxsupport@calyxsoftware.com
WebCaster and INK-it Support: webcastersupport@calyxsoftware.com
 

And Speaking of the Loan Estimate…

On Thursday, June 23, we are offering a live 60 minute webinar, presented by Emily Martinez, a senior consultant on our professional services team, to help you generate accurate and compliant Loan Estimates. The webinar is now filled to capacity, but don’t worry, we will post a recording so you won’t miss this informative webinar.

Topics:

  • Navigating the Loan Estimate screen
  • Completing the Loan Estimate
  • How the Fees Worksheet populates the Loan Estimate
  • Tips and Techniques to ensure accuracy

Stay tuned for the recording!

Rethinking Summer School

Do you think of summer school as a place where kids who are falling behind go to catch up or for overachievers to earn some extra credit? Well, think again. Summer is a great time to brush up or learn new skills. Our Professional Services Group (PSG) can teach you and your team tips and tools that can immediately help you become more productive during this busy time:

  • Increase productivity by setting up custom forms and rules management
  • Take control of compliance issues with zero tolerance fields, audit trails and upgrade policies
  • Develop and maintain multiple template sets for centralized control and rapid download to all users

PSG representatives are flexible too - we can assist you at your office or deliver personalized consultations by phone.

To learn more about the services that PSG offers or to schedule a PSG consultation, contact your Account Manager at 800.362.2599 or email sales@calyxsoftware.com.

Missed the Original Trended Credit Data Webinar?

On June 2 we partnered with CoreLogic for a Q&A webinar to give you an opportunity to ask questions about trended credit data and how the upcoming Fannie Mae requirements will impact you. If you missed that webinar, we have posted the recording to ensure you have the opportunity to learn about this important update to credit processing.

Trended credit data reflects 24 months of historical data on borrower credit payments, including the effective date of the trended data, current limit, current balance, high balance, scheduled payment, and actual payment amount. Trended credit data is intended to help you better determines credit risk by understanding a borrower’s credit history over time. By providing additional payment detail, you can determine whether a borrower tends to pay off revolving credit lines each month, such as credit cards, or whether the borrower tends to carry a balance while making minimum or other payment amounts.

The credit reporting bureaus will require that all credit reports obtained by mortgage users include trended credit data regardless of whether they submit loans to Fannie Mae.

Listen to our trended credit data webinar recording.

What Does CalyxSoftware Give You the Freedom to Do?

Grow your business into new channels? Focus on customer service?
Simplify the loan origination process? All of the above and more.
Connect with us on social media with #FreedomTo and tell us what CalyxSoftware gives you the freedom to do!

twitter.com/CalyxSoftware
www.facebook.com/CalyxSoftware/
www.linkedin.com/company/Calyx-Software

Upcoming Events

CUNA’s America’s Credit Union Conference
June 25-29, 2016 | Washington State Convention Center | Seattle, WA

MBA of Hawaii’s 2016 Annual State Conference
June 30-July 1, 2016 | Hawaii Prince Hotel Waikiki | Honolulu, HI

Florida CUREN
July 14-15, 2016 | The Naples Beach Hotel & Golf Club | Naples, FL
* Be sure to see us on the LOS Panel, tentatively scheduled for July 14 at 10:15AM

CalyxSoftware User Conference
Our first national mortgage industry symposium and user conference
October 5-8, 2016 | The Hyatt Regency | New Orleans, LA

Holiday Hours

Please note our offices will be closed on Monday, July 4, 2016.
We wish you all a very happy and safe Independence Day!

Closing Thoughts so appropriate in this busy time…

"If everything seems under control, you're just not going fast enough."
- Mario Andretti

     
 
CalyxSoftware
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3500 Maple Ave, Suite 500, Dallas, TX 75219
www.CalyxSoftware.com | sales@CalyxSoftware.com
Phone: +1 (800) 342-2599